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Editor's note: This recap was last published on Dec. 29, 2008. "It's OK to sell stocks in a down market," Jim Cramer told viewers of his "Mad Money" TV show Friday. "Just don't sell everything," he said, as he outlined his rules for surviving a tough market. Cramer told viewers that they should never be afraid to sell stocks when the market turns sour, but they need to exercise discipline, and never panic into selling everything. Over the last few months, he's been advocating that investors secure what money they may need in the next five years.
What to KeepAfter telling viewers what they should sell in a down market, Cramer then explained what investors should keep. He identified three types of stocks that can be owned, even in the worst of market conditions.